House passes tax credits bill

The Missouri House passed the Senate’s version of the economic development bill back across the hallway, but not without making a few changes. The House added a sales tax holiday on domestic goods, and decreased corporate income tax from 6.25 percent to 5.5 percent. Top House Republican Steven Tilley says that’s going to help Missouri attract business.

Another portion of the bill the Senate might not like is that the House removed all the sunsets for the tax credits, and instead set up a review process, in which the credits would all be reviewed every four years. The Senate meets Tuesday to decide the fate of the bill. House leaders didn’t rule out the possibility of a conference committee, though they previously said they wouldn’t compromise.